Denmark to Have Highest Retirement Age in Europe: Is 70 the New Normal?
Denmark is poised to become the European nation with the highest retirement age, a move that’s sparking debate and raising questions about the future of work and retirement across the continent. The Danish parliament recently approved legislation raising the retirement age to 70 by the year 2040.
Since 2006, Denmark has linked its official retirement age to life expectancy, revising it every five years. Currently at 67, it's slated to climb incrementally to 68 in 2030 and 69 in 2035. The retirement age of 70 will apply to individuals born after December 31, 1970.
While the law passed with a significant majority (81 votes for, 21 against), it hasn't been without its critics. Last year, Social Democrat Prime Minister Mette Frederiksen hinted at a potential renegotiation of the sliding scale principle, stating, "We no longer believe that the retirement age should be increased automatically."
The decision also evokes a strong reaction from public. Tommas Jensen, a 47-year-old roofer, voiced concerns to Danish media, calling the change "unreasonable." He emphasized the disparity between desk jobs and physically demanding professions, stating, "We're working and working and working, but we can't keep going… I've paid my taxes all my life. There should also be time to be with children and grandchildren."
The decision comes as retirement ages across Europe are shifting. Many governments are raising the retirement age to mirror longer life expectancies and manage budget deficits. In Sweden, individuals can begin claiming pension benefits at 63. Italy’s standard pension age is 67, subject to adjustments based on life expectancy. The UK is gradually increasing its state pension age for those born after April 5, 1960. France, despite significant protests, raised its retirement age from 62 to 64 in 2023.
Trade unions have voiced strong opposition to the Danish increase. Jesper Ettrup Rasmussen, chairman of a Danish trade union confederation, called the proposal “completely unfair,” arguing that it denies people a “dignified senior life.”
This move by Denmark sparks a much larger conversation about the challenges and realities of retirement in the 21st century. As lifespans increase, how do societies balance the need for financial sustainability with the well-being and expectations of their aging populations? Is a retirement age of 70 sustainable across all professions? And what are the implications for workforce participation and societal structures?
What are your thoughts on Denmark's decision? Do you believe retirement ages will continue to rise? Share your opinions in the comments below!